May a Muslim employee use a conventional insurance medical card provided by the company?

Summary

The default ruling on dealing with conventional insurance is prohibited because it contains elements of gambling, usury and gharar. If the employee can afford it, it is better and safer to obtain a Shariah-compliant medical card or takaful plan personally. If not, the employee should limit claims to the amount of premium paid by the company. Companies with Muslim employees are advised to replace conventional insurance benefits with Shariah-compliant takaful.

Written in our own words from the original fatwa — check the source before acting on it.